Iran confirms S.Korea's halt of oil imports

Top Stories

»	Core sector output plunges by over 38% in April
»	GDP growth down to 3.1% in fourth quarter on manufacturing slump
»	Need to reform Finance Ministry to facilitate exports, imports: Amitabh Kant
»	FDI inflows rise 18% to $73 bn in FY20
»	Goyal urges exporters to provide quality products, diversify

IANS | 24 Sep, 2018
Iran's Ministry of Petroleum has confirmed that South Korea has halted oil imports from the Islamic republic.

"It it for three successive months that South Korea has not imported oil from Iran," public relations of the ministry said on Sunday, Xinhua news agency reported.

"South Korea was the first country to halt Iran's oil imports following the US sanction threats against the country," Kasra Nouri, the public relation manager of the ministry said.

Prior to the US sanctions threat, Seoul imported 180,000 barrels per day of Iran's crude oil, according to the report.

Despite global outcry, the White House re-imposed sanctions on Iran last month which had been lifted under the Iran nuclear deal.

The first batch of sanctions targeted Tehran's purchase of US banknotes, trade in gold and other precious metals, as well as the use of graphite, aluminium, steel, coal, and software used in industrial processes.

Another round of sanctions, to be reinstalled on November 5, will be on Iran's port, energy, shipping and shipbuilding sectors, petroleum-related transactions, and business deals by foreign financial institutions with the Central Bank of Iran.

US President Donald Trump pulled out the US from the 2015 international Iranian nuclear deal in May.